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Will County Gazette

Tuesday, April 16, 2024

Former state school employee Sutkowski paid in $102K to teachers' pension fund, could collect $1.89M in retirement

Money 04

Former state school employee Jane Sutkowski, who retired in June 2017, saved $101,538 toward a pension over 25 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Sutkowski would collect as much as $1.89 million, according to a projection by Local Government Information Services (LGIS), which publishes Will County Gazette.

The projection assumes Sutkowski received $39,628 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 3 years of retirement, Sutkowski will have already received $122,487 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

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